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3511 Meridian Avenue Celina, TX 75009

4 Beds 4 Baths 3,436 sqft Built 2016

$464,900

List Price

$3,140

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $135.30
  • 6 Days on Market
  • MLS # : 14489614
  • Updated Date : 12/26/2020 at 20:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,436 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Realty Frisco

Listing Agent's Description

Soaring ceilings welcome you to this custom 4 bedroom home located in Light Farms.With only a few active homes available in the community, don't miss your opportunity.This unique floorplan offers 2 GAME ROOMS, study & MEDIA room.Home boasts rich hardwood flooring with a guest bed & bath down.The dream kitchen has a large, oversized island, quartz countertops & ceiling height glass cabinets. The master retreat has a sitting area & luxurious bathroom.The two story living room with modern gas fireplace looks out on the oversized covered back patio. Walk down the street to the Prosper ISD elementary school. Home is located on an oversized 60' lot & minutes from community pool, gym, restaurant & Constellation Park.

SEE MORE

MARKET HIGHLIGHTS

  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Light Farms

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k415k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Light Farms

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262435

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Reynolds Middle School Middle Regular 1,048 68 8
Prosper High School High Regular 1,868 120 9

Reynolds Middle School

  • Education Level: Middle
  • # of students: 1,048
  • # of teachers: 68
8
GreatSchools Rating

Prosper High School

  • Education Level: High
  • # of students: 1,868
  • # of teachers: 120
9
GreatSchools Rating
 

$418,410$511,390$464,900

PURCHASE PRICE

$2,826$3,454$3,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,140
EXPENSES Loan Payment -$1,715
Property Tax -$949
Property Insurance -$226
HOA -$127
Property Management Fees -$99
CASH FLOW
$24

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$464,900

PROJECTED PRICE

$3,140

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,949

INVESTMENT

$128,949

Down Payment
$116,225
Rehab Estimate
$5,750
Closing Costs
$6,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,715

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,225
Loan Amount $348,675
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$26,086

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,140

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $3,144

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9753$3,1404$3,1505$3,795
$3,795
RENT COMPS ANALYSIS
  • 3511 Meridian Avenue Celina, TX 3
    • 4 beds 4 baths ∙ 3,436 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,436 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $3,140
    • $0.91
    •  
  • 1309 Skyflower Lane Celina, TX 1
    • 4 beds 4 baths ∙ 3,488 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,488 Sqft ∙ Built 2016
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.83
    •  
  • 3618 Juniper Court Celina, TX 2
    • 4 beds 4 baths ∙ 3,510 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,510 Sqft ∙ Built 2014
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $0.85
    •  
  • 3625 Wagon Wheel Way Celina, TX 4
    • 4 beds 3 baths ∙ 3,399 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,399 Sqft ∙ Built 2014
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.93
    •  
  • 4421 Hazeltine Hills Drive Celina, TX 5
    • 4 beds 3 baths ∙ 3,618 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,618 Sqft ∙ Built 2015
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $1.05
    •  
PROPERTY LISTING DETAILS
Lorraine Hursman
Coldwell Banker Realty Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489614
Last Updated: 12/26/2020
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